The primary marketing objective of the company is to expand the current targeted market to the younger population in Canada in a one-year span. This includes the ability to reach a lower-income, less educated and yet easy to reach audience. Studies conducted by ONTrack show that approximately 55 percent of the college students are horse racing fans. In addition, college students take up 52 percent of the entire population. This shows that there is a significant potential for ONTrack to target these audiences. Subsequently, when the objective is achieved, the next goal is to reach the younger population in the US by the end of three-year duration. Thus far, the company focuses on advertisers that are interested in purchasing an advertising slot during the horse racing cycle. Further, the company only focuses on appealing the older population, people who are in their 30’s and older, as well as those who have additional income to wager horse racing for the past 50 years. Thus, this limits the company from extending to a wider range of audiences. Hence, the company is neglecting potential audience who are in the younger and middle age population ranging from 20 years old and above, which can be potentially into sport such as horse racing. By attracting the younger audiences to watch and acknowledge the ONTrack Network, the network will get more views. By increasing the number of viewers, the company can increase the price for advertisers to advertise on the network, thereby increasing our ROI (OnTrack Network, 2008).
S
Short Term Objective: Target a younger population group of at least 10,000 between the age of 20 and 35 by the end of one year.
Long Term Objective: Reach younger population in the US by the end of three-year duration.
M
attract at least 10,000 in population of age ranging from 20-35
A
current viewers of the company is 96 million viewers
The horse racing fan base increased 12.7% from 1999 to 2006 and 5% during 2006
Setting a goal to aim to gain 10,000 in population age ranging from 20-35 is relevant based on the company size and viewer population
R
10,000 viewer gain is a achievable goal through using right marketing strategies and advertising
Reaching younger population in the US is also achievable with right marketing strategies
T
Goals of 10,000 viewers gain within 1 year period
Since reaching to the US market can sometime be difficult. Thus require a little more time and planning (3 years)
The primary marketing objective of the company is to expand the current targeted market to the younger population in Canada in a one-year span. This includes the ability to reach a lower-income, less educated and yet easy to reach audience. Studies conducted by ONTrack show that approximately 55 percent of the college students are horse racing fans. In addition, college students take up 52 percent of the entire population. This shows that there is a significant potential for ONTrack to target these audiences. Subsequently, when the objective is achieved, the next goal is to reach the younger population in the US by the end of three-year duration. Thus far, the company focuses on advertisers that are interested in purchasing an advertising slot during the horse racing cycle. Further, the company only focuses on appealing the older population, people who are in their 30’s and older, as well as those who have additional income to wager horse racing for the past 50 years. Thus, this limits the company from extending to a wider range of audiences. Hence, the company is neglecting potential audience who are in the younger and middle age population ranging from 20 years old and above, which can be potentially into sport such as horse racing. By attracting the younger audiences to watch and acknowledge the ONTrack Network, the network will get more views. By increasing the number of viewers, the company can increase the price for advertisers to advertise on the network, thereby increasing our ROI (OnTrack Network, 2008).
References:
1. "Demographic profile of active horse racing fans." OnTrack Network. OnTrack, 2008. Web. 27 Mar 2011. <http://www.ontnetwork.com/demographics.html>.